, because the latter is associated with lending booms and crises. Some critics invoke as evidence the recent weak growth of … that financial liberalization has typically followed trade liberalization, and that both have led to faster growth, despite … imperfections, liberalization leads to faster growth and, as a by-product, to financial fragility. Third, comparing Mexico with this …

We argue that both growth accounting and growth regression analysis can yield useful insights into the growth process … consistency, we conclude that both capital accumulation and efficiency gains are central to the growth process. We find, at best …, a weak correlation between growth and increased schooling. And we find that most of the variation in cross …